Selalu Sukses Sdn. Bhd. owned by Hsalut is a business specializing in trading nasi lemak: Accounting Assignment, UM, Malaysia

School

Universiti Malaya (UM)

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Assignment Type

Individual Assignment

Subject

Accounting

Uploaded by Malaysia Assignment Help

Date

01/17/2022
  • Selalu Sukses Sdn. Bhd. owned by Hsalut is a business specializing in trading nasi lemak. The following balances were extracted from the books of Selalu Sukses Sdn. Bhd. as of 31st December 2018:
RM RM
Cash 50,900.00
Bank/overdraft 15,850.56
Bank loan 24,120.00
Capital 43,755.00
Other creditors ? ?
Trade Debtors/Creditors ? 19,570.00
98,005.95 98,005.95

 

  • Transactions in 2019
  1. In January the business recorded credit sales amounted to RM 50,900.
  2. Purchased pandan leaves, peanuts, and basmati rice using cheque amounted to RM 13,000 in February.
  3. Purchased a food truck on credit amounted to RM 68,600, somewhere in March.
  4. In April, one of the customers returned 150 defective nasi lemak amounted to RM 125. It was a credit transaction before.
  5. In May, cash sales recorded amounted to RM 25,000.
  6. Purchased a few canopies using a cheque in June. The transaction was recorded at RM 2,350.
  7. Purchased a lot of banana leaves on credit amounted to RM 500 in August.
  8. One of the canopies was disposed of for RM 250. The buyer paid half using cash and the remaining amount will be settled next year.
  9. The owner brought a sofa set valued at RM 2,000 into the business for office use.
  10. In October, the owner took out 100 in cash for personal use.
  11. Paid supplier of banana leaves using cheque in full amount in December.
  • Prepare:
  1. Ledgers
  2. Income statement
  3. Balance sheet

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